A retired financial advisor from East Sussex lost over $100,000 in a cryptocurrency scam while his father was terminally ill with cancer. He invested in digital currency through a company claiming to be investment specialists, which initially provided positive returns. However, before long, his investment began to decrease, and the firm stopped responding.

Despite the Financial Conduct Authority (FCA) warning about the risk of investing in crypto assets, more UK citizens are making the leap than ever before, leading to a 59% rise in inquiries about cryptocurrency scams since 2020.